A D.C. federal judge approved a $153 million class action settlement Friday for investors who accused housing giant Fannie Mae and accounting firm KPMG LLP of putting out misleading financial reports, the largest such settlement in the D.C. Circuit since 1996.
While some fear the Employment Non-Discrimination Act would bring an uptick in discrimination-related litigation, companies such as Apple, Accenture, Bank of America, Capital One, Citigroup, General Electric, Goldman Sachs, JPMorgan Chase, and many others have expressed their support for the proposed law, says Katharine Parker of Proskauer Rose LLP.
On Dec. 5, the U.S. House of Representatives passed the Innovation Act, which would modify patent law to make it harder for so-called patent trolls to perpetrate litigation abuses. There is parallel legislation in the Senate, but it is more limited and arguably directed to the worst patent-litigation abuses, say Jeffrey Lesovitz and Daniel Goettle of Woodcock Washburn LLP.
Condominium developers are turning to the buyer-financed model to fund the pre-construction and construction phases of their projects. But a recent Florida Supreme Court ruling complicates things for realtors and lawyers who do not identify and inform their buyers of the risks of this development model, says Andrew Hall of Hall Lamb and Hall PA.
Recently, the California Department of Conservation, Division of Oil, Gas & Geothermal Resources issued two key documents relating to hydraulic fracturing. Of keen interest is whether these new rules will permit development of the Monterey Shale in a manner that is competitive with the development of oil reserves elsewhere — or whether government involvement will delay development of the world’s largest, deep shale-oil play, say attorneys at Latham & Watkins LLP.
A recent class certification denial in a false advertising action challenging Chipotle's "naturally raised" meat claims seems to stem from the growing trend among federal courts of barring class certification on ascertainability grounds, say David Conway and Edward Boyle of Venable LLP.
The statutory and regulatory framework, marketplace, infrastructure and use of health information technology has grown and changed exponentially during the 2013 calendar year — but not without practical and legal challenges ranging from Affordable Care Act implementation to fraud and data protection concerns, say Sidney Welch and Cindy Acosta at Kilpatrick Townsend & Stockton LLP.
While the technology at issue in Commil USA LLC v. Cisco Systems Inc. was not life sciences, the implications of the Federal Circuit's decision, and the trend in the law it reflects, likely will be significant for companies that often rely on method-of-treatment, mechanism-of-action and method-of-manufacturing patents as key value drivers. Such patents may be materially weakened, say Eric Marandett and Diana Huang of Choate Hall & Stewart LLP.
State attorneys general gave online privacy protection increasing attention in 2013. There was mounting pressure from attorneys general to expand privacy protections, a rising number of enforcement actions and increased coordination among states, says Jason Crawford, a federal law clerk.
The fact that some prominent judges have rejected binding plea agreements between corporations and the government means that companies negotiating plea agreements should be more prepared than ever to answer questions about why the binding sentence they are proposing is not only fair for the parties but for the general public as well, say Diana Lloyd and Jacqueline Mantica of Choate Hall & Stewart LLP.
The benefits of foreign revenues are clear, but international expansion also carries some significant risks. Companies that understand the complex anti-corruption and export control laws, especially where they intersect with one another, and plan ahead for compliance will position themselves for long-term success, say Scott Maberry and Mark Jensen of Sheppard Mullin Richter & Hampton LLP.